Warren Buffett has indicated he would be interested in increasing his stake in Apple , as long as shares in the technology giant were available at the right price.

Speaking at Berkshire Hathaway’s annual shareholder meeting, the billionaire praised Apple for choosing to buy back its own stock, after the company announced last week it could buy back as much as $100 billion worth of stock.

Warren Buffett participates in a discussion during the White House Summit on the United State Of Women June 14, 2016 in Washington, DC. The billionaire has praised Apple's decision to repurchase its own stock. Alex Wong/Getty Images

“We would love to see Apple go down in price,” he told shareholders, as reported by Reuters.

At the time, the holding was worth more than $28 billion but after the recent share purchase and an 8 percent increase in Apple’s stock price, Berkshire’s stake is now worth more than $44 billion.

"It is an unbelievable company,” Buffett said in an interview with CNBC. "If you look at Apple, I think it earns almost twice as much as the second most profitable company in the U.S.”

Buffett also praised Apple’s penchant for developing “extremely sticky” products that were extremely successful with their customers, so much so that that users become strictly attached to gadgets such as iPhones, MacBooks and iPads.

Last week, Apple reported its profit in the first three months of the year stood at $13.8 billion, a 25 percent increase from the corresponding period 12 months earlier.